T.J. Maxx Correlations

TJX Stock

USD 121.85 0.47 0.39%

The current 90-days correlation between TJX Companies and Burlington Stores is 0.52 (i.e., Very weak diversification). The correlation of T.J. Maxx is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

T.J. Maxx Correlation With Market

Modest diversification

The correlation between The TJX Companies and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The TJX Companies and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in The TJX Companies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with T.J. Stock

0.82	AN	AutoNation	Pair Corr
0.68	RH	RH	Pair Corr
0.86	VSCO	Victorias Secret	Pair Corr
0.77	ETSY	Etsy Inc	Pair Corr
0.81	WINA	Winmark	Pair Corr
0.75	WRBY	Warby Parker Downward Rally	Pair Corr
0.76	AAP	Advance Auto Parts	Pair Corr
0.71	ABG	Asbury Automotive	Pair Corr
0.65	AZO	AutoZone	Pair Corr
0.93	BKE	Buckle Inc	Pair Corr

Moving against T.J. Stock

0.66	DIBS	1StdibsCom	Pair Corr
0.58	JL	J Long Group	Pair Corr
0.57	EDUC	Educational Development	Pair Corr
0.54	JD	JD Inc Adr Buyout Trend	Pair Corr
0.54	VIPS	Vipshop Holdings	Pair Corr
0.5	EVGO	Evgo Inc Downward Rally	Pair Corr
0.48	DXLG	Destination XL Group	Pair Corr
0.45	BQ	Boqii Holding Limited	Pair Corr
0.45	LE	Lands End	Pair Corr
0.37	YJ	Yunji Inc	Pair Corr
0.34	DLTH	Duluth Holdings	Pair Corr
0.32	FL	Foot Locker	Pair Corr
0.82	BGI	Birks Group	Pair Corr
0.55	AKA	AKA Brands Holding	Pair Corr
0.5	XELB	Xcel Brands	Pair Corr
0.49	AEO	American Eagle Outfitters	Pair Corr
0.47	BBY	Best Buy	Pair Corr

Related Correlations Analysis

	BURL	GES	URBN	PLCE	ROST	BKE	HIBB	ANF	GPS	FL
BURL		-0.69	0.85	-0.25	0.82	0.96	0.34	0.22	-0.51	-0.58	BURL
GES	-0.69		-0.84	0.49	-0.43	-0.66	-0.44	0.17	0.24	0.77	GES
URBN	0.85	-0.84		-0.58	0.78	0.84	0.32	0.23	-0.43	-0.71	URBN
PLCE	-0.25	0.49	-0.58		-0.36	-0.2	-0.21	-0.27	0.06	0.58	PLCE
ROST	0.82	-0.43	0.78	-0.36		0.79	0.23	0.44	-0.38	-0.41	ROST
BKE	0.96	-0.66	0.84	-0.2	0.79		0.36	0.18	-0.49	-0.5	BKE
HIBB	0.34	-0.44	0.32	-0.21	0.23	0.36		-0.12	0.21	-0.18	HIBB
ANF	0.22	0.17	0.23	-0.27	0.44	0.18	-0.12		-0.22	0.09	ANF
GPS	-0.51	0.24	-0.43	0.06	-0.38	-0.49	0.21	-0.22		0.3	GPS
FL	-0.58	0.77	-0.71	0.58	-0.41	-0.5	-0.18	0.09	0.3		FL
	BURL	GES	URBN	PLCE	ROST	BKE	HIBB	ANF	GPS	FL

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BKE	+ 0.96	BURL
URBN	+ 0.85	BURL
BKE	+ 0.84	URBN
ROST	+ 0.82	BURL
BKE	+ 0.79	ROST
ROST	+ 0.78	URBN

High negative correlations

URBN	- 0.84	GES
FL	- 0.71	URBN
GES	- 0.69	BURL
BKE	- 0.66	GES
PLCE	- 0.58	URBN
FL	- 0.58	BURL

Risk-Adjusted Indicators

There is a big difference between T.J. Stock performing well and T.J. Maxx Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze T.J. Maxx's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BURL	1.28	0.21	0.13	0.55	1.50	(1.29)	2.37	(2.47)	7.93
GES	1.96	(0.62)	0.00	(1.36)	0.00	0.00	2.64	(4.24)	11.09
URBN	1.92	0.61	0.36	3.99	1.34	(2.37)	4.35	(2.58)	22.12
PLCE	4.24	(0.19)	0.00	0.16	0.00	0.00	9.28	(13.20)	35.52
ROST	1.00	0.06	0.05	0.15	1.17	(1.10)	2.25	(2.19)	7.28
BKE	1.30	0.26	0.18	0.62	1.30	(1.49)	2.88	(2.21)	9.59
HIBB	0.65	0.33	1.13	1.22	0.00	(0.67)	0.56	(0.24)	19.75
ANF	2.69	(0.18)	0.00	1.74	0.00	0.00	5.09	(5.13)	23.02
GPS	2.96	0.26	0.10	(0.29)	2.65	(4.19)	6.38	(4.61)	36.06
FL	1.88	(0.16)	0.00	(0.31)	0.00	0.00	3.83	(3.86)	15.08

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC